The $71B Shadow Market: What DeepSeek’s Valuation Signals for Chinese AI

In the high-stakes theater of frontier AI, DeepSeek has emerged as a primary case study in how Chinese capital markets are rewriting the rules of valuation. Despite a formal fundraising process that hit a wall in mid-summer, the company’s secondary market implied valuation has climbed to approximately $71 billion, according to recent reports (Financial Times, […]